Analysts fell to the sidelines weighing in on Accuray Inc (ARAY) and Editas Medicine Inc (EDIT) with neutral ratings, indicating that the experts are neither bullish nor bearish on the stocks.
Accuray Inc (ARAY)
BTIG analyst Sean Lavin maintained a Hold rating on Accuray Inc yesterday. The company’s shares closed yesterday at $3.97.
Lavin wrote:
“As we previewed, we felt Accuray was positioned well going into this earnings report, with shares trading below ~1x revenue and expectations set at an achievable level. ARAY turned in a small beat on F2Q19 revenue but more importantly, posted gross orders of $100.2M, more than $20M above consensus. This was driven by order strength in both Americas region, two areas where we anticipate continued, if lumpy, demand. Despite this, management maintained FY19 revenue guidance of $415-$425M and noted China orders would fluctuate quarterly. We move our FY19 revenue forecast to the top end of the range and leave our near- term gross orders unchanged but increase our gross order and revenue outlook in the outyears. An update on the Chinese joint venture negotiations is expected soon.”
According to TipRanks.com, Lavin is a 5-star analyst with an average return of 9.3% and a 58.0% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.
Accuray Inc has an analyst consensus of Hold, with a price target consensus of $3.90.
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Editas Medicine Inc (EDIT)
In a report released yesterday, Cory Kasimov from J.P. Morgan maintained a Hold rating on Editas Medicine Inc. The company’s shares closed yesterday at $20.95, close to its 52-week low of $17.80.
According to TipRanks.com, Kasimov is a 3-star analyst with an average return of 0.6% and a 41.8% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Allogene Therapeutics Inc, and Global Blood Therapeutics.
Editas Medicine Inc has an analyst consensus of Moderate Buy, with a price target consensus of $55.
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